Corporate Social and Environmental Disclosures, Corporate Social and Environmental Performance and Corporate Financial Performance in Nigeria: A Simultaneous Equation Approach

Odia J.O. and Imagbe V.U.

International Journal of Management Sciences, 2015, vol. 5, issue 9, 615-627

Abstract: This paper examines the relations among corporate social and environmental disclosure, social and environmental performance and financial performance in Nigeria based on the simultaneous equation approach. The study was based on the survey of management, shareholders and auditors to examine the relationship among the constructs. Using the simultaneous equation model regression analysis, the results indicate that “good†social and environmental performance is significantly and positive associated with “good†economic performance, and also with more extensive social and environmental disclosures. However, the negative and significant association between financial performance and social and environmental disclosures indicates that financial performance is not a driver of corporate social and environmental disclosures and most economically viable firms are wary and reluctant to make substantial social and environmental disclosures.

Keywords: Social and environmental disclosures; social and environmental performance; financial performance; simultaneous equation model; legitimacy theory (search for similar items in EconPapers)
Date: 2015
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